Europe's chemical industry seeks a lifeboat to stay in business

Europe's petrochemical industry is unravelling under a wave of plant closures after years of losses and a rapid expansion of global capacity led by China.

Chinese producers are also building outposts in Southeast Asia to export to Europe and North America to bypass carbon taxes and Western tariffs on China-made goods.

EU faces rising imports and dependency on foreign chemicals

Around 40% of EU's ethylene capacity at risk of closure